Asset managers are still losing millions of pounds a year in hidden foreign-exchange bank charges, research shows, despite the advancement of money-saving solutions such as independent live benchmarks and transaction cost analysis (TCA).

Long-awaited changes announced last week to the composition of Japan's state pension fund portfolios, combined with increasing flows into foreign – predominantly US dollar – assets from retail investors and the insurance sector, should weaken the yen, but could be storing up problems in the long term.

Implied volatility on the Swiss franc has risen sharply in recent days, amid speculation that a referendum at the end of this month might force the Swiss National Bank to greatly increase its gold holdings.

FX market veteran takes up new role developing digital technology and reducing business complexity across Deutsche Bank’s markets platform

High-frequency trading is not confined to Europe and north America. Some Asia-Pacific countries are further along in embracing the strategy than others.

The analysis of structured, semi-structured and unstructured information from multiple sources, commonly referred to as ‘big data’, could improve FX pricing as well as reduce the potential for regulatory infringements, according to technology experts.

Backed by its robust trading relationship with China, the east Asian nation is the latest fledgling offshore renminbi hub. Market participants shed light on South Korea’s renminbi bid as internationalization of the Chinese currency gathers pace.

The full-scale disruptive potential of social trading is beginning to become clear, according to proponents. But there are fears that it is encouraging inexperienced traders to load up with risk in the pursuit of large returns and there have been calls for tougher regulation.

The US has reached a milestone by announcing the end of its eight-year quantitative easing stimulus programme as its economy recovers, but the news highlights the increasing policy divergence between the US and Europe. Corporates have as a result started factoring in increasing euro weakness ahead of 2015.

The US dollar has become highly correlated with equities in recent months, conjuring up memories of the late 1990s and the dotcom boom, the last time the two asset classes rose together for such an extended period. But the differences between the two periods are as illustrative as their similarities.

China, the dollar and oil. All three are moving in novel directions.

The decline of the Brazilian real to a nine-year low this week seemed to mark a nadir for a currency buffeted by economic and political concerns. Analysts say, though, that things could get worse before they get better.

Latin America’s first such deal; Pemex plans to follow.

The ECB commenced its covered bonds purchasing programme last week, but no sooner had it started than rumours surfaced about a new plan to purchase corporate bonds. The fevered speculation demonstrates the lack of confidence in the ECB's existing plan, reviving questions about full-scale QE and its seniority in bond holdings.

A momentary strengthening of the yen amid market panic coincided with reports the government might be having second thoughts about key planks of the reform agenda – the consumption tax and a weak yen. But analysts insist there has been no change of policy, but pension and energy reforms hold the key.

Market participants are relatively relaxed about the impact of last year’s change to the US trading model, relative to the dire warnings from the global trade association for OTC derivatives, but global market fragmentation remains a risk.

Commodities could be facing further weakness, amid falling demand in China and elsewhere. All eyes are again on the US, where strong growth could support prices and prevent a further sell-off of commodity currencies.

Providing payment services is likely to become more attractive to brands with large, loyal customer bases that see value, either directly or indirectly, in processing transactions.

Spikes of volatility have appeared in FX markets in recent weeks, prompting speculation that a long period of dormancy in currency options might be coming to an end. However, reports of a forthcoming bonanza could be exaggerated, some analysts say.

Buoyed by its Indian success, the World Bank’s private-sector arm the International Finance Corporation (IFC) has set its sights on further extending the offshore renminbi curve.

Turkey’s embattled investors can be forgiven feeling defensive, with economic challenges closing in on them from every side – from the Middle East crisis and strengthening dollar to the stubborn current-account deficit.

With various regulatory initiatives demanding that financial institutions gather and disclose information relating to customers, a number of firms have responded to what they see as a market opportunity to develop customer-identity screening services, with a single, industry-wide utility seen, by some, as the end-goal.

European bond and equity markets have been happy hunting grounds for foreign investors of late, and demand for European assets has helped support the euro, despite economic headwinds. However, bankers now report a shift to increased hedging of European exposures, leaving the region’s currency relatively unprotected against interest-rate differentials.

Over-the-counter (OTC) derivatives market reform outside the US and Europe will be closely monitored by companies who use these derivatives to manage foreign-currency earnings exchange-rate risk.

Foreign-exchange technology provider MahiFX is seeking to challenge the dominance of the leading banks in the electronic FX market by eating into their share of trading and sales with second-tier banks and brokers.

The dollar has begun what many expect will be a prolonged march higher after a multi-year bear run. A strengthening greenback has traditionally been bad news for emerging markets and the early signs suggest this time will be no different.

It has been a gruelling few days for Latin American currencies, which have borne the brunt of asset allocations away from EMs and into an invigorated greenback, ahead of expected rates rises – but analysts believe the longer-term outlook for the Mexican peso looks brighter than most other EM currencies.

Post-Scottish referendum, UK political risks have not gone away, while the fiscal picture remains dire.

The debate around how to strengthen the regulation of FX markets continues to rage. Advocates highlight examples of regulations that have benefited the markets in the long run, while detractors warn of unintended consequences and cite their own examples of risk-mitigating measures evolving naturally within the industry.

It has been another torrid month for the rouble, but the possibility of tensions with Ukraine abating in the near term and a package of monetary reforms next year offer hope for more trading opportunities.